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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK1+ years Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $27,573 |
ROWLEY & COMPANY, LLP1+ years Service code 10 · EIN 35-1866709 | Accounting | $10,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,251 | $54,573-6.1% | $90,970-43.7% | $73,497-30.3% |
| Participation rate | 60.9% | 61.2%-0.3pp | 69.0%-8.1pp | 70.7%-9.8pp |
| Annual return | 11.72% | 16.69%-5.0pp | 134.60%-122.9pp | 28.51%-16.8pp |
| Employer contribution / active EE | $465 | $991-53.1% | $2,122-78.1% | $2,270-79.5% |
| Participant deferral / active EE | $2,474 | $2,517-1.7% | $3,373-26.7% | $3,740-33.9% |
| Admin fee / account holder | $432 | $521-17.2% | $5,961-92.8% | $513-15.8% |